Global Infrastructure Partners (GIP) is in advanced talks to acquire RattanIndia Power Limited’s solar power assets. The enterprise value of the transaction is expected to be Rs 21.013 billion.
Currently, due diligence of solar assets by GIP has been completed and the documentation work is under progress. The acquisition is expected to be completed by end-May 2019.
RattanIndia has a project portfolio of about 300 MW including both ground mounted solar projects and rooftop solar projects. Of the total capacity, 154 MW capacity of ground mounted solar plants is under development while, 116 MW capacity is already operational.